Dicker Furriers purchased 2,600 bonds of Loose Corporation on January 10, 2017, for $350 per...
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Dicker Furriers purchased 2,600 bonds of Loose Corporation on January 10, 2017, for $350 per bond and classified the investment as securities available for sale. Loose's market value was $200 per bond on December 31, 2017, and the decline in value was viewed as temporary. As of December 31, 2018, Dicker still owned the Loose bonds whose market value had declined to $120 per share. The decline is due to a reason that's judged to be other than temporary. Dicker's December 31, 2018, balance sheet and the 2018 income statement would show the following: Investment in Loose stock 312,000 312,000 520,000 910,000 Income statement loss on investments 598,000 208,000 598,000 Multiple Choice Option d Multiple Choice Option d o o o of Option a Optionc Option b
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